1060 LAWS OF MARYLAND. [CH. 509

low Section 234 of said Article, to be known as Sections
234A, 234B, 234C, 234D, and to read as follows:

234A. The County Commissioners of Harford County
be and they are hereby authorized and empowered to bor-
row from time to time upon the faith and credit of Harford
County a sum or sums of money not to exceed in the ag-
gregate the sum of seven hundred and fifty thousand dol-
lars ($750, 000) and at a rate of interest not to exceed four
per cent. (4%) per annum, for the purpose of extending
the present State Roads system in said County.

234B. The said County Commissioners are hereby au-
thorized to borrow, under the provisions of this Act, from
such bank, banker or trust company, or from any other
source, as they shall from time to time select. The said
County Commissioners are authorized to execute and de-
liver the negotiable promissory note or notes of the Coun-
ty Commissioners of Harford County, to be signed by the
president of the said County Commissioners and the
Treasurer of Harford County, with the seal of the said
County affixed thereto, in such denomination or denomina-
tions, payable at such place and at such date or dates, not
later than December 31, 1940, as the said County Commis-
sioners shall by resolution provide. The said notes shall
bear interest at such rate or rates, not exceeding 4% per
annum, as shall be provided by resolution of the County
Commissioners, such interest to be evidenced by semi-an-
nual coupons attached to the said notes and bearing the
facsimile signature of the Treasurer of Harford County.
Said County Commissioners are authorized to borrow un-
der the provisions of this Act by selling the negotiable
promissory notes herein authorized, with coupons attached,
at a discount less than the principal amount thereof, pro-
vided that the coupon interest, together with any such dis-
count, shall not exceed 4% per annum on the principal of
said loan. The said loan and every part thereof and every
note, coupon or other evidence thereof, and the interest
payable thereon, shall be and remain exempt from State,
County and Municipal taxation.

234C. The said County Commissioners shall use the
proceeds of such loan for the purpose of paying to the
State Roads Commission of Maryland, upon the presenta-
tion of proper vouchers and demands from said Commis-
sion for the construction of roads to be built within the
boundaries of Harford County, such roads to be designated
by said State Roads Commission of Maryland.